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Birks Group reports 4% decline in holiday season sales.

Birks Group announced a 4% decline in holiday season sales, for the period from November 3, 2017 through December 30, 2017, but when the results of two flagship stores currently undergoing major renovations are excluded, comparable store sales increased by 2%. The 2% growth in comparable store sales experienced across the remaining stores was primarily the result of the increased sales of Birks-branded products, execution of targeted marketing campaigns and growth in e-commerce sales. Jean-Christophe Bedos, president and CEO, commented: "While we continued to battle a soft retail environment in Canada, we managed to leverage our marketing campaigns, the performance of Birks-branded products and our ongoing dedication to enhancing customer experience. As we enter the final quarter of our fiscal year, we will maintain our focus on our short-term and long-term growth strategies, namely the renovation of our flagship stores, the global expansion of the Birks product brand and the development of our e-commerce and wholesale businesses; the execution of which will contribute to long-term sales and profitability growth. Furthermore, our financial position supports our investments in these growth strategies. Under all the circumstances, we are pleased with our achievements."

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Publication:The Fly
Date:Jan 12, 2018
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